Troubled global cryptocurrency exchange Binance continues moving fast in curbing services to respond to the ongoing regulatory scrutiny worldwide, partly shutting downward derivatives trading.

Binance officially announced Friday that it would suspend its derivatives trading across the European region, starting with Federal republic of germany, Italia and the netherlands. The company antiseptic that users in mentioned countries cannot open new futures accounts on Binance effective immediately.

Binance added that the exchange doesn't actively marketplace futures and derivatives products locally, and information technology plans farther to scale down access to these products in the region. "The European region is a very important market for Binance, and it is taking proactive steps towards harmonizing crypto regulations, which is a positive sign for the industry," Binance wrote.

The exchange noted that the latest move aligns with Binance's delivery to engage in a constructive dialogue with global regulators regarding local requirements. Cointelegraph reached out to Binance and will update the story.

Binance'south latest suspensions follow a series of new trading restrictions amid the visitor facing massive pressure level from global regulators, including those in Federal republic of germany and Italy. In mid-July, the Italian Companies and Exchange Commission said that Binance Group and affiliated companies were unauthorized to provide investment services and operate in the country. Almost a dozen other global financial authorities in countries such every bit the United States and the U.k. have posted related warnings in recent months.

Related: Binance cuts withdrawal limits, rolls out tax reporting tool

In line with the visitor's delivery to collaborate with regulators to offering its services legally, Binance has been actively limiting its services, delisting margin trading pairs for three fiat currencies and curbing maximum leverage positions from 125x to 20x earlier this week. Binance is as well preparing to cut daily withdrawal limits from ii Bitcoin (BTC) to 0.06 BTC in August.

Despite Binance'southward mounting regulatory challenges worldwide, the company's CEO, Changpeng Zhao, apparently remains optimistic nigh the hereafter of the cryptocurrency exchange. Terminal calendar week, Zhao disclosed Binance United states of america, a U.S.-based cryptocurrency exchange operating separately from Binance, is looking to get public.

"Binance United states of america is looking at the IPO route. Most regulators are familiar with a certain design or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen," Zhao said.